Law & Regulation

The gaming firm funneling cash for global multi-level marketing scheme

Australian Financial Review
Mon, 06 Sep 2021

Since Emerge Gaming announced its Miggster program with Crowd1 late last year, the Australian Securities Exchange has issued Emerge with seven different Query Letters. (Image: Screengrab)

Australian Financial Review
Mon, 06 Sep 2021

The Australian corporate watchdog is monitoring ASX-listed Emerge Gaming, which last week revealed 98% of its revenue is derived from Crowd1 Network, a multi-level marketing company that has been the subject of warnings from several international regulators including in New Zealand.Emerge Gaming, a small Perth-based company with a market capitalisation of just A$30 million, booked revenues of A$10.9 million for the year to June 30, of which A$10.6 million came through sales of its Miggster gaming platform, a white-labelled “e-sports&rdquo...

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The gaming firm funneling cash for global multi-level marketing scheme

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